Estimated economic loss due to two-week ECQ in NCR Plus at P180B —DTI’s Lopez

The two-week enhanced community quarantine in the National Capital Region (NCR) and its four adjacent provinces has resulted in almost P200 billion in losses to the country’s economy, Trade Secretary Ramon Lopez said Thursday.

“Ang nawala sa ekonomiya estimated po ay around 1% ng ating GDP (gross domestic product). ‘Yung 1% na ‘yun kung tayo ay may GDP na P18 trillion, P180 billion ang estimate na nawala sa ating ekonomiya,” Lopez said during state-run PTV’s Laging Handa briefing.

(The economy lost an estimated 1% of GDP. That 1% is equivalent to P180 billion losses if we have an P18-trillion economy.)

Metro Manila, Bulacan, Cavite, Rizal, and Laguna, collectively as NCR Plus, were placed under the strictest quarantine classification from March 29 to April 11 due to recent spike in new COVID-19 cases.

The area was reverted to modified ECQ for the rest of April.

Lopez said that the two-week ECQ in NCR Plus also resulted in the displacement— either a temporary loss of job or an irregular work schedule—of around 1.5 million workers.

“Ngayong MECQ base sa datos natin may mga 500,000 out of 1.5 million ang makakabalik ngayong MECQ. May one million na makakabalik pag na GCQ (general community quarantine) na tayo,” the Trade chief said.

(Now in MECQ, based on data around 500,000 out of the 1.5 million can return to work. Meanwhile, one million will return if we revert to GCQ.)

He said the return to GCQ of NCR Plus will depend on data if there is already a surplus of ICU or intensive care unit rooms and hospital beds as well as reduction in new cases.

“Base sa estimates, by end of April, makikita kung may improvement na kasama na rin ang ability to contact trace and isolate (Based on estimates, by the end of April, we can see if there are improvements already as well on our ability to contact trace and isolate),” Lopez said.—AOL, GMA News